Montag A & Associates Inc. Lowers Stock Position in Republic Services, Inc. (NYSE:RSG)

Montag A & Associates Inc. cut its stake in shares of Republic Services, Inc. (NYSE:RSG) by 35.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,485 shares of the business services provider’s stock after selling 8,515 shares during the quarter. Montag A & Associates Inc.’s holdings in Republic Services were worth $2,562,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its position in Republic Services by 4.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 32,257 shares of the business services provider’s stock worth $4,597,000 after purchasing an additional 1,508 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Republic Services by 26.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,153 shares of the business services provider’s stock worth $12,705,000 after purchasing an additional 18,672 shares during the period. Advisor Partners II LLC boosted its position in Republic Services by 5.7% during the 3rd quarter. Advisor Partners II LLC now owns 19,071 shares of the business services provider’s stock worth $2,718,000 after purchasing an additional 1,025 shares during the period. Park Avenue Securities LLC purchased a new stake in Republic Services during the 3rd quarter worth $898,000. Finally, Capital Advisors Ltd. LLC boosted its position in Republic Services by 5.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,762 shares of the business services provider’s stock worth $251,000 after purchasing an additional 88 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Stock Up 0.4 %

Shares of Republic Services stock traded up $0.80 during trading on Thursday, reaching $188.13. The company had a trading volume of 954,226 shares, compared to its average volume of 1,253,367. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 3.22 and a beta of 0.67. The firm’s fifty day moving average is $188.16 and its 200-day moving average is $172.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.53 and a current ratio of 0.53. Republic Services, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $196.76.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. Republic Services’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, analysts anticipate that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be paid a dividend of $0.535 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $2.14 annualized dividend and a yield of 1.14%. Republic Services’s dividend payout ratio (DPR) is 37.54%.

Wall Street Analysts Forecast Growth

RSG has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Republic Services from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Scotiabank upped their price objective on shares of Republic Services from $211.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. UBS Group upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer upped their price objective on shares of Republic Services from $202.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.00.

Insider Buying and Selling

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the transaction, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ark Jon Vander sold 5,446 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $184.10, for a total transaction of $1,002,608.60. Following the completion of the transaction, the chief executive officer now owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.